Arctic Wolf, an Eden Praire, Minn.-based security operations company, raised a financing round of $150m achieving a valuation of $4.3 billion.
Backers included Viking Global Investors, Owl Rock, a division of Blue Owl Capital, and other existing investors.
The company intends to use the funds to continue accelerating its market momentum, expand operations globally and bring to market new products and innovation to build Security Operations for customers around the globe.
Capitalizing on hypergrowth and strong demand for its technology and services, Arctic Wolf is cementing its position as the market leader in Security Operations. With its innovative approach to solving cybersecurity’s effectiveness problem, Arctic Wolf is setting a new standard for customers looking to end cyber risk by leveraging the cloud-native Arctic Wolf® Platform and the Concierge Security® Team.
Led by Brian NeSmith, chief executive officer, Arctic Wolf provides a solution that gives organizations the protection, resilience, and guidance they need to defend against cyber threats, including Managed Detection and Response (MDR), Managed Risk, Managed Cloud Monitoring, and Managed Security Awareness —each delivered by a Concierge Security Team.
The company, which has approximately 3,000 customers, recently launched a new Managed Security Awareness solution, which helps organizations to build cyber resilience against human-based attacks. Additionally, Arctic Wolf restructured its partner program with new tiers and support services for partners to meet the channel demand for its solutions and services and launched Service Assurance.